ALERT I AM CURENTLY LONG SELECTED SEMIS AGAIN...AND WILL HOLD THEM OVER THE WEEKND...THIS WAS MY MORNING E-MAIL TO DA TROOPS..HAVE A GREAT HOLIDAY WEEKEND ALL...
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Good Morning everyone...
I wanted to wish everyone a happy and restfull holiday weekend...do not take the lap top with you...and rest and reflect on what you've been doing this past 3-4 months, and how it's been for you money wise as well as emotionally to you and your family....
i've been testing some newer trading techniques that i've talked about here..during my "counter trend rallies"...I do want to say that many of you do not know how to short...you need to understand that it's no different than going long..i mean that...it's all just the same trade..nothing different..whats keeping you from doing it at all, is that most people are right way thinking...meaning they don't like the DARK side, or the "Don't Pass Line in Craps...but what with the current daytrading trend, you need to get with it now, so you can enjoy those nice profits on the OTHER side of the street...
i'll help you learn how to trade short when i get back...we'll have a live class using Paltalk.com..please download this, and add me as your buddy..jerryo34...you'll need to SEE the charts as i teach this class...
I did want to alert you to several important events this am...Both short term NYSE indicators on P&F, the Percent of 10, and the HI LO index have reversed back down here...this is a negative...it's funny usually when they turn down, we rally for 1-2-3 days first then move lower...
I also want to mention my SS or Short Sale triggers...folks these are VALID triggers...take them!!! they work...if your in a short trade "BEFORE" my trigger because you adjusted that stocks trading range intraday, then if my trigger hits while your short, it means you should STAY in the short using trailing stops...and let that winner run...you do not have to scalp a trade like that...try to trade using hard stops, relaxed and confident of your thinking...there's really no mistery to trading..all it takes is knowledge of past results, past timing, past chart patterns...you TRUST IT, like a good golf swing under preasure...this works for me folks..it should work for you...
If you decide to trade this small bounce here...i would suggest to trade only the BIO's and Semis..the SOX has held well...520 break and you would just promptly short the very same stocks your were long...but i think we'll bounce here off good support on the S&P futures...we are deeply over sold as seen on the VIX...this set up reminds me of last Tues nite...same thing..High VIX pop near 28, SPX held that double bottom, this time it did not, suggesting a short rally only...but the SOX and Bio's are holding well...look at the numbers...and those stocks that pulled back to where i originally bought them last week...well..thats really nice...there was support there from before...
so the list is the usual group of stocks...adding GSPT here too..it's held well and wants to go up i think..i am long at 14.70 with a break even stop now in place...
HERE'S THE BEST OF THE LONGS...
ELNT---MCHP---TQNT---KLAC--AMAT---NVDA--CCMP---SMH(NICE)--MU(IT'S RIGHT HERE AGAIN)???---NSM---RFMD---MYGN--PDLI---IDPH---GENZ(A STAR)---GILD--IMCL---JUST TO NAME A FEW..
IF YOU DECIDE TO TRY THIS BOUNCE LONG..USE STOPS AT ALL TIMES...AND TRY TO GET TO BREAKEVEN QUICKLY..THEN RELAX...
Ok i am packing for the weekend...got a haircut, manicure and went to lunch with my honey yesterday..flat on all trades...except GSPT...
it's been nothing short of spectacular results trading these "counter trend rallies"...YOU DO NOT DO THIS DURING THE DAY..NEVER!!!..YOU ALWAYS TRADE "WITH" THE TREND OF THE DAY..NEVER FIGHTING IT...
WHAT I'M DOING IS LEARNING HOW FAR I CAN TAKE THESE LONGS DURING A TRECHEROUS DOWNSIDE MOVE...IT'S BEEN EXCITING, AND VERY VERY PROFITABLE......"SO FAR"<VBG>....
ONE LAST TRADING RULE....DURING THE FIRST 30 MINUTES..DRAW THOSE TOPS AND BOTTOMS ON ANY STOCK OR INDEX YOUR WATCHING...YOUR TRIGGERS WOULD BE ANY BREAK UP OR DOWN OF THOSE LINES, "IF" THE FUTURES ARE MOVING "WITH" YOU...SO IF YOU TAKE OUT THE LOW OF THAT DRAWN 30 MINUTE LINE...YOU GO SHORT, THEN, IF THE STOCK TAKES OUT YESTERDAYS LOWS, YOU STAY SHORT AS LONG AS THE FUTURES ARE DOING THE SAME THING....SIMPLE RULES OF THE ROAD...THIS WORKS FOR ME BIG TIME..IT WILL FOR YOU TOO...THIS WOULD BE CONSIDERED A "TREND DAY DOWN"...
ok nuff said..have a wonderful holiday...see you when i return...the newsletter comes out late Monday evening...
say hello to your family from me and mine..best always
jerry |
